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Cendant
Cendant Corporation was an American provider of business and consumer services, primarily within the real estate and travel industries. In 2005 and 2006, it broke up and spun off or sold its constituent businesses. Although it was based in New York City, the majority of its headquarters employees were in Parsippany-Troy Hills, New Jersey. Its last CEO was Henry Silverman. History Founding Hospitality Franchise Systems Inc. (HFS) was created as an affiliate of the Blackstone Group, a private equity firm, as a vehicle to acquire hotel franchises. It was led by Henry Silverman, a Blackstone partner and former CEO of Days Inn. It began in 1990 by buying Howard Johnson's and the U.S. rights to the Ramada brand from Prime Motor Inns for $170 million. In 1992, HFS bought the Days Inn franchise out of bankruptcy for $290 million. This purchase made HFS the largest hotel franchisor in the world, with its brands licensed to 2,300 hotels. Blackstone took Hospitality Franchise Systems ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Henry Silverman
Henry R. Silverman (born August 1, 1940) is an American entrepreneur and private equity investor. Silverman is best known for his role in building Cendant Corporation into a multibillion-dollar business services company that provided car rentals, travel reservation services as well as real estate brokerage services and was also the largest franchisor of hotels globally. Among the brands that Silverman controlled included hotels and motels such as AmeriHost Inn, Days Inn, Howard Johnson's, Ramada, Super 8 and Travelodge; car rental operators such as Avis Rent a Car System and Budget Rent a Car; real estate brokerages such as Coldwell Banker, Century 21 Real Estate and Sotheby's International Realty; as well as Orbitz Worldwide. Early life and education Born to a Jewish family, in Brooklyn, the son of the chief executive of commercial finance firm James Talcott Inc. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CUC International
CUC (Comp-U-Card) International Inc. was a membership-based consumer services conglomerate with travel, shopping, auto, dining, home improvement and financial services offered to more than 60 million customers worldwide based in Stamford, Connecticut, USA, and founded in 1973 by Kirk Shelton and Walter Forbes. In 1998, it became involved in a Securities and Exchange Commission investigation into what, at the time, was the biggest accounting scandal in corporate history. History Their main product, a shopping service, originally a membership telephone-based drop-ship service called Comp-U-Card begun in 1973, was made available online to users of The Source in the mid-1980s, and later CompuServe after its purchase of The Source. It later offered its Shoppers Advantage service on America Online, Prodigy, GEnie and Delphi as well. It was perhaps the first company conducting electronic commerce, although its web based service first went online in 1995. CUC's main line of operation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ramada
Ramada is a large American multinational hotel chain owned by Wyndham Hotels and Resorts. As of December 31, 2018, it operates 811 hotels with 114,614 rooms across 63 countries under the Ramada brand. Name The ''Ramada'' name derives from the Spanish term ''rama'' (meaning "branch"). Temporary open-air structures called "ramadas" (meaning "porch" or "arbor"), made of brush or branches (similar to an arbor) were popular in Arizona during harvest time. Company websites commonly refer to the structure as a "shady resting place". History Longtime Chicago restaurateur Marion W. Isbell (1905–1988) founded the chain in 1953 along with a group of investors including Michael Robinson of McAllen, Texas (who later went on to start Rodeway Inns in the early 1960s) and Del Webb of Phoenix (who owned the New York Yankees and went on to establish his own lodging chain, Hiway House, in 1956). Other original investors of Ramada Inns included Isbell's brother-in-law Bill Helsing; ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jackson Hewitt
Jackson Hewitt Tax Service Inc. is the second largest Tax preparation in the United States, tax-preparation service in the United States; responsible for preparing over 2 million federal, state, and local income-tax returns each year. The headquarters is located in Jersey City, New Jersey. It operated more than 6,000 franchised and company-owned locations throughout the United States, including nearly 3,000 located in Walmart stores nationwide. In January 1998, the Cendant, Cendant Corporation, a consumer conglomerate, purchased Jackson Hewitt in a transaction valued at approximately $480 million. In 2004, Jackson Hewitt Tax Service Inc. was spun off as a separate company. History Foundation Jackson Hewitt was founded in 1982 by John Hewitt (entrepreneur), John Hewitt with a variety of investors who purchased the six-location, Norfolk, Virginia, Norfolk, Virginia-based Mel Jackson's Tax Service and renamed it Jackson Hewitt. For the next few years, the company grew slowly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Howard Johnson's
Howard Johnson's, or Howard Johnson by Wyndham, is an American hotel chain and former restaurant chain. Founded by Howard Deering Johnson in 1925 as a restaurant, it was the largest restaurant chain in the U.S. throughout the 1960s and 1970s, with more than 1,000 combined company-owned and franchised outlets. The company began opening hotels, then known as Howard Johnson's Motor Lodges, in the 1950s. Howard Johnson's restaurants were franchised separately from the hotel brand beginning in 1986, but in the years that followed, severely dwindled in number. The last restaurant, in Lake George, New York, closed in 2022. The line of branded supermarket frozen foods, including ice cream, is no longer manufactured. Since 2006, the motels have been owned by Wyndham Hotels and Resorts. History Early years In 1925, Howard Deering Johnson borrowed $2,000 to buy and operate a small corner pharmacy in Wollaston, a neighborhood in Quincy, Massachusetts. Johnson was surprised to find ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ERA Real Estate
Anywhere Real Estate Inc., formerly Realogy (), is an American publicly owned real estate services company. It owns and franchises several real estate brands and brokerages, and offers consumer programs, lead generation, relocation, and title settlement services. History In 2005, Cendant split off all but its car rental interests into separate companies. Realogy was formed to group its real estate activities; shares in the new company were distributed to existing Cendant shareholders. In late 2006, it was bought for $6.65 billion, plus debt and other liabilities, by Apollo Global Management, a private equity group. The company was listed on the New York Stock Exchange in 2012; 40 million shares were sold at $27 each, raising US$1.08 billion. In 2013, the company moved its head office from Parsippany-Troy Hills, New Jersey to Madison, New Jersey. Ryan Schneider succeeded Richard A. Smith as chief executive officer in 2017. In May 2022, Realogy announced that the company wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Avis Budget Group
Avis Budget Group is American car rental agency holding company headquartered in Parsippany, New Jersey. It is the parent company of several brands including Avis Car Rental, Budget Rent a Car, Budget Truck Rental, Payless Car Rental and Zipcar. The company also operates several smaller, regional brands including ACL Hire, Apex Car Rentals, AmicoBlue, France Cars, Maggiore Group, MoriniRent, TurisCar and TurisPrime. It is one of the three big rental car holding companies in the United States, holding a 26% market share, placing it behind both the Hertz Corporation and Enterprise Holdings. History Following the decision to dissolve the Cendant company name and split into four separate companies, the vehicle rental division of Cendant became Avis Budget Group in 2006. In 2011, Avis Budget Group acquired Avis Europe, an independently-owned company licensee, globally reuniting the Avis and Budget brands. On September 5, 2012, Avis Budget Group acquired Apex Car Rentals of Ne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Blackstone Group
Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate. Blackstone is also active in credit, infrastructure, hedge fund solutions, insurance solutions, secondaries and growth equity. As of Q3 2022, the company's total assets under management were approximately US$951 billion, making it the largest alternative investment firm globally. Blackstone was founded in 1985 as a mergers and acquisitions firm by Peter G. Peterson and Stephen A. Schwarzman, who had previously worked together at Lehman Brothers. History Founding and early history Blackstone was founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman with $400,000 in seed capital. The founders named their firm "Blackstone," using a cryptogram derived from the names of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PHH Corp
The PHH Corporation is an American financial services corporation headquartered in Mount Laurel, New Jersey which provides mortgage services to some of the world's largest financial services firms. PHH is the biggest U.S. outsourcer of home loans, processes and originates mortgages on behalf of small banks and some of the world's largest financial firms, including Morgan Stanley and HSBC Holdings Plc. On October 4, 2018 Ocwen Financial completed its acquisition of PHH Corporation and PHH is now a wholly owned subsidiary of Ocwen Financial Corp. History PHH was founded by Duane Peterson, Harley Howell and Richard Heather in 1946 in Mount Laurel, New Jersey and incorporated in 1953 as a Maryland corporation providing mortgage services, employee relocation services, fleet management services. Between April 30, 1997 and February 1, 2005, PHH was a wholly owned subsidiary of Cendant Corporation (now known as Avis Budget Group) and its predecessors that provided mortgage banking ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Century 21 (real Estate)
Century 21 Real Estate LLC is an American real estate agent franchise company founded in 1971. The system consists of approximately 14,000 independently owned and operated franchised broker offices in 86 countries and territories worldwide with over 147,000 sales professionals. Century 21 Real Estate is headquartered in Madison, New Jersey. The first Century 21 office in Canada opened its doors in British Columbia in February 1976. History Century 21 Real Estate (Century 21) was founded in 1971 by two real estate agents, Art Bartlett and Marsh Fisher, in Orange County, California. Here Bartlett reveals how they decided on the name: Century 21 was acquired by Trans World Corporation in 1979, when Trans World Corporation decided to focus on hospitality and housing. In 1985, MetLife acquired Century 21 from Trans World Corporation. When MetLife decided to leave the housing business, Century 21 was sold to Hospitality Franchise Systems (later Cendant) in 1995. When Cendant ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coldwell Banker
Coldwell Banker Real Estate LLC is an American real estate franchise owned by Anywhere Real Estate, with headquarters in Madison, New Jersey. It was founded in 1906 in San Francisco, and has approximately 3000 offices in 49 countries and territories. It publishes an annual house price guide, ''Home Listing Report''. History After the devastating 1906 San Francisco earthquake and fires, Albert Nion Tucker, Colbert Coldwell and John Conant Lynch formed Tucker, Lynch and Coldwell on August 27, 1906. Benjamin Arthur Banker joined the firm as a salesman in 1913, and became a partner in 1914. The company was renamed Coldwell Banker in the same year. Banker and Coldwell remained active in the company throughout their lives. In 1920, Coldwell Banker moved to a three-story building in San Francisco. It opened an office in Phoenix, Arizona, its first outside California, in 1952. In the 1970s the company expanded by acquiring firms in Atlanta, Chicago, and Washington, D.C. The first in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Walter Forbes
Walter Forbes (born 1942/43) is an American corporate executive and former Federal prisoner. He was prosecuted by the U.S. Attorney's Office for the District of New Jersey and convicted of one count of conspiracy to commit securities fraud, and two counts of making false statements, for inflating reported incomes for the Cendant Corporation, when he was Chief Executive Officer of that company in the 1990s, and at its predecessor company CUC International. On 2007 January 17, the 64-year-old Forbes was sentenced to over 12 years in prison, and ordered to make restitution amounting to $3.28 billion. Former vice chairman E. Kirk Shelton was ordered to pay the same figure. Forbes was released from prison on July 20, 2018. One Department of Justice website describes this as the largest restitution order ever imposed as of July 2007. It has since been overtaken by the $170 billion restitution order against Bernard Madoff in June 2009. Walter Forbes has no relation to the Bost ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
